Tumblr founder and CEO David Karp steps down

Tumblr CEO and founder David Karp is stepping down from his CEO position after 11 years at the job.

Karp's departure comes just months after Verizon acquired Yahoo, which owned Tumblr, and merged it with AOL to form a new company called Oath.

"David founded Tumblr ten years ago as a space for the world's creators, and we thank him for his commitment and passion driving the growth of the platform to almost 380 million blogs and over 155 billion posts," Oath said in a statement.

Letter I just sent to my team ♥️ https://t.co/3Vsv3ROuhf

— David Karp (@davidkarp) November 27, 2017

Karp didn't go into detail about his reasons for leaving, but he told his team that the move came after "months of reflection" about his personal goals. He will be leaving by the end of the year and will be replaced by the social media site’s president and COO, Jeff D’Onofrio.